ARTICLES ABOUT DIAGEO BY DATE - PAGE 5

KOLKATA: Srei Infrastructure Finance said it will explore Diageo's second open offer to cash out of United Spirits . The non-banking finance company acquired 4.9-million shares of USL following its Rs 430-crore deal with ICICI Bank , in which the bank sold its sticky loans given to Kingfisher Airlines to Srei's venture capital fund. Srei also has a direct loan exposure of Rs 70 crore to USL. "Diageo's second open offer is lucrative. The decision to sell the stake will depend on whether investors want to redeem it," a Srei official said, adding "It's a good opportunity.

Diageo's global Chief Financial Officer Deirdre Mahlan reiterated her confidence in India's growth and favourable demographics, which can turn a driving force for the spirits business. In an interaction with ET Mahlan also said she was confident of the open offer's success. Edited excerpts: Indian economy is going through a slowdown, which makes your payback target of 7 years an aggressive one. What gives you confidence? India is not the only emerging market that has had an economic slowdown.

MUMBAI: The world's biggest distiller Diageo Plc wants to strengthen its hold over United Spirits Ltd (USL) in an effort to extend its reach in the world's largest whiskey market through an offer for shares that will nearly double the holding. The USL stock shot up to a record after the news broke. London-headquartered Diageo offered to pay Rs 11,448.92 crore ($1.9 billion) to buy an additional 26% stake in USL for Rs 3,030 per share to raise its shareholding to as much as 55%. The development was first reported in economictimes.com early Tuesday morning, ahead of a company announcement.

MUMBAI: Brokers and wealth managers are advising clients against tendering shares of United Spirits in the open offer by Diageo to raise its stake in India's largest spirits maker. Analysts said United Spirits shares may move up further over the next couple of years as investors are likely to turn more bullish on the company with Diageo taking charge. "I would advise that long-term investors should hold United Spirits shares, as I expect valuations to edge much higher with Diageo on drivers' seat," said Ambareesh Baliga, managing partner of global wealth management with Edelweiss Financial Services . Diageo relaunched its bid to increase stake in the company to 54.8% from 28.8% currently, at an offer price of Rs 3,030 per share, at 18.5% premium to the closing price on Friday.

NEW DELHI: United Spirits Ltd rallied as much as 15 per cent in morning trade to hit its fresh 52-week high of Rs 2940.55 on Tuesday, after Diageo Plc announced a tender offer to acquire up to an additional 26 per cent stake in the Indian firm. The offer is at Rs 3030/share, which would be a 18.4 per cent premium to its last closing price. On Friday, the stock closed at Rs 2557/share. At 10:00 a.m.; United Spirits pared some of the morning gains but was still trading 11 per cent higher at Rs 2836.

MUMBAI: Shares of United Spirits (USL) opened with a gap-up and surged 15 per cent in trade on Tuesday after Diageo Plc announced a tender offer to acquire additional 26 per cent stake or 37,785,214 shares in the company. The tender offer will be at a price of Rs 3,030 per share, a premium of 18.5 per cent, to the USL closing price in the previous session. The offer price represents a premium of 22.5 per cent to the price at which Diageo last acquired USL shares on 31 January 2014 and 20 per cent to the 60 day volume weighted average price for USL. According to analysts, investors should tender their shares in the offer as the offer price is fairly valued.

MUMBAI: The world's largest spirits company Diageo Plc is likely to make a strategic announcement on Tuesday about United Spirits, India's top spirit maker. Stock market is abuzz that Diageo is likely to hike its stake in United Spirits, a company it acquired in 2012 and try to take its stake over 51%. Although the exact route for the exercise is still not clear, most expect Diageo to announce an open offer to buy an additional 26% in the company. A Diageo spokesperson in India declined to comment on the matter.

MUMBAI: The world's largest spirits company Diageo Plc has decided to hike its stake in United Spirits, a company it acquired in 2012 and try to take its stake to 55%. Diageo has launched an open offer on Tuesday morning to acquire an additional 26% in the company. Currently Diageo holds 29% stake in the company via one of its international arms Relay BV and has been trying to gradually acquire more shares in Vijay Mallya's flagship distillery from the open market. It is the single largest shareholder in USL.However it is much lower than the 53.4% it originally sought, while various UB Group entities and other Vijay Mallya promoted firms own 11.08% in USL. The offer is at Rs 3030/share, which would be a 18.4% premium to its last closing price.

At 56, taking a resolution to walk t 56, taking a resolution to walk 2014 miles in the year 2014 seems brave. And Stuart Fletcher defies every sign of slowing down. Agile and eloquent, the CEO of the healthcare group BUPA, tackles a volley of questions in Delhi's Max BUPA office, including the similarities between his current role and previous engagement as president of Diageo's international division. As he aligns the 67-year-old company to the BUPA 2020 vision , the trained tubist walks the talk on domain and non-core and what it means to transition from a liquor company to its polar opposite, healthcare.

BANGALORE: United Spirits' sale process of Whyte and Mackay has enticed bids from over 20 companies, including global liquor majors and private equity players, and could fetch the Bangalore-based company northwards of $900 million (Rs5,600 crore). Diageo-controlled USL has asked potential suitors for Scotch whisky brand W&M to put in two bids, for the business entirely and W&M without Dalmore and Tamnavulin, the two distilleries and brands Diageo wants to retain. ET learns that Dalmore and Tamnavulin, which have a capacity of nine million litres a year, are pegged at close to $400 million (Rs2,500 crore)